Pros;
Valid Pinbar at 130.00 BRN
Wide open space
FTA a long way from the entry
Cons;
Catching a falling knife
Weak close (would be better to see a close near the top of the pin)
No Divergence
Lack of confluence in general
Verdict;
Pass
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedNot a bad one, since it would be off a round number. There should be few pips, but I think its very risky. The trend is so strongly down. Quickly moving to breakeven should be considered if this one is taken.Ignored
DislikedGhous....Is the 2 pip margin valid in a BEOB or does it invalidate this bar.Ignored
DislikedHi Everybody, the USD/CAD looks like its in a nice place at the minute, seems to be a long standing PPZ in this area, also just unbder the BRN 1.0600.
Is this a BEOB on the attached chart? or does the main body of the candle need to engulf the main body of the previous.
If it is would this be a good place to trade the retrace of the bar, with a SL at around 1.061, and a 1st Tp at about 1.0520, above the prior resistance?
What does everyone think? does this make any sense, any comments much appreciated, cheers.Ignored
DislikedGhous....Is the 2 pip margin valid in a BEOB or does it invalidate this bar.Ignored
DislikedThis was my thought process on this one
Pros;
Valid Pinbar at 130.00 BRN
Wide open space
FTA a long way from the entry
Cons;
Catching a falling knife
Weak close (would be better to see a close near the top of the pin)
No Divergence
Lack of confluence in general
Verdict;
Pass
Ignored
DislikedBy definition that's a BEOB yes, but again a pretty poor shape, you gotta like the ones with a real long nose at one end protruding away from a decent sized body and a strong close at the other end of the bar.
g.Ignored
DislikedNice set up here, Retrace capped at 50% and rejects 61%.
BEOB which could be arguesd in Engulfing to capping a rally.
8920 possible Traffic but Target 8880 and below. tHis is in the past but would appreciate commentsIgnored
Dislikedsure this is just part of trading. Times when price will just miss your stop too and move on. But those are easier to forget about
Usually if price comes real close especially in this case then I will just close out or at worst go to b/e.
It is an imperfect world in which we work with in the markets
MikeIgnored
DislikedHello friends,
After a journey on several threads in the forex factory, I found on the PA a strong and clear system . I have studied for six months. I'm in forex for 2 years. Regarding many of you, I'm a baby .... I hope to learn with you, guys.
I´m sorry about the english, I´m brazilian.
Thank youIgnored
DislikedAnother thought crossed my mind today. If we learn to be SUPER PICKY. I mean like picky to the point we only take just one setup per month or so. The one that meets all our criteria.... then, why don't we trade say 5-7% of total account? Even if RR is 1:1 or little less, that trade would make a very, very nice monthly % growth. And knowing all we need is just 1 trade, it is easier to become and stay picky...
I mean, when we have a MM of 1% or 2% isn't it puts us into more pressure to trade more, so we can make "better income" and the result...Ignored
DislikedI wasn't expecting so many spectators for the video, my 2 GB bandwidth storage capacity is about filled up to the brim at screen cast, which means a few more views and the video cannot no longer be accessed.
I tried you tube but the uploaded video's quality sucks.
Anybody knows of a good video hosting website (free)?
g.Ignored
DislikedI wasn't expecting so many spectators for the video, my 2 GB bandwidth storage capacity is about filled up to the brim at screen cast, which means a few more views and the video cannot no longer be accessed.
I tried you tube but the uploaded video's quality sucks.
Anybody knows of a good video hosting website (free)?
g.Ignored